International Applications and Prior Notifications under Subparts A and C of Regulation K

Forms and Documents

Document Name	Status
Form FR K-1 Reporting Attachments A and B Form and Instruction	Modified
Form FR K-1 Disclosure Attachment F Form and Instruction	New
Form FR K-1 Reporting Attachment K Form and Instruction	Modified
Form FR K-1 Reporting Attachment J Form and Instruction	Modified
Form FR K-1 Reporting Attachments H and I Form and Instruction	Modified
Form FR K-1 Reporting Attachments C, D, E, F, and G Form and Instruction	Modified
FRK1_20210730_omb.pdf Supporting Statement A	2021-07-30

IC Document Collections

IC ID	Document Title	Status
36108	Reporting Attachments A and B Form and Instruction	Modified
248636	Disclosure Attachment F Form and Instruction	New
248635	Recordkeeping Section 211.13	New
248634	Reporting Section 211.11	New
248633	Reporting Sections 211.10(a)(14)(i)(A), 211.10(a)(14)(ii), 211.10(a)(15)(ii), and 211.10(a)(15)(iv)(B)	New
248632	Reporting Section 211.8(g)(3)(iii)	New
248631	Reporting Section 211.5(c)(4)	New
183385	Reporting Attachment K Form and Instruction	Modified
183384	Reporting Attachment J Form and Instruction	Modified
183383	Reporting Attachments H and I Form and Instruction	Modified
183382	Reporting Attachments C, D, E, F, and G Form and Instruction	Modified

ICR Details

OMB Control No: 7100-0107	ICR Reference No: 202107-7100-007
Status: Active	Previous ICR Reference No: 202102-7100-002
Agency/Subagency: FRS	Agency Tracking No: FR K-1
Title: International Applications and Prior Notifications under Subparts A and C of Regulation K
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/30/2021
	Date Received in OIRA: 07/30/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2024	36 Months From Approved	07/31/2021
Responses	171	0	71
Time Burden (Hours)	987	0	903
Cost Burden (Dollars)	0	0	0

---

Abstract: Subpart A of Regulation K - International Banking Operations (12 CFR Part 211), governs the foreign investments and activities of member banks, Edge and agreement corporations, bank holding companies (BHCs), and certain investments by foreign organizations. Subpart C of Regulation K governs investments in export trading companies by eligible investors. The FR K-1 information collection contains eleven attachments, discussed below, for the application and notification requirements in Subparts A and C of Regulation K. The Board requires these applications for regulatory and supervisory purposes and to allow the Board to fulfill its statutory obligations under the Federal Reserve Act (FRA) and the Bank Holding Company Act of 1956 (BHC Act). The applications are event-generated and provide the Federal Reserve with information necessary to evaluate each of the proposed transactions.

---

Authorizing Statute(s): US Code: 12 USC 611-631 Name of Law: Federal Reserve Act
   US Code: 12 USC 1843(c)(13) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 601-604(a) Name of Law: Federal Reserve Act
   US Code: 12 USC 1843(c)(14) Name of Law: Bank Holding Company Act of 1956
   US Code: 12 USC 1844(c) Name of Law: Bank Holding Company Act of 1956
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

---

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 23968	05/05/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 40840	07/29/2021
Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 11

IC Title	Form No.	Form Name
Disclosure Attachment F	FR K-1	International Applications and Prior Notifications under Subparts A and C of Regulation K
Recordkeeping Section 211.13
Reporting Attachment J	FR K-1	International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Attachment K	FR K-1	International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Attachments A and B	FR K-1	International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Attachments C, D, E, F, and G	FR K-1	International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Attachments H and I	FR K-1	International Applications and Prior Notifications under Subparts A and C of Regulation K
Reporting Section 211.11
Reporting Section 211.5(c)(4)
Reporting Section 211.8(g)(3)(iii)
Reporting Sections 211.10(a)(14)(i)(A), 211.10(a)(14)(ii), 211.10(a)(15)(ii), and 211.10(a)(15)(iv)(B)

---

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	171	71	0	100	0	0
Annual Time Burden (Hours)	987	903	0	84	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The estimated total annual burden for the FR K-1 is 903 hours, and would increase to 987 hours with the revisions. The reporting burden is based on the average number of applications and notifications filed during a typical year. The disclosure burden associated with Attachment F reflects the amount of time required to fulfill the newspaper publication requirement for that attachment. The additional reporting and recordkeeping burden consists of existing burden related to several provisions not previously cleared under the PRA.

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

---

Common Form ICR:  No

---

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/30/2021

---